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New Managers September 2019

SEEDERS & PLATFORMS: OPIM to launch Button Growth Fund

 

OP Investment Management (OPIM), Asia's leading emerging hedge fund platform, is partnering with Hong Kong-based Button Investment Management to launch Button Growth Fund, a long/short equity hedge fund that primarily invests in U.S., Hong Kong, and mainland China markets. The Fund is managed by Mr. Yunye Lu, who draws his approach from his poker playing and risk management experience. Before launching the Fund, Mr. Lu was a portfolio manager at HJY Capital Advisors, where he managed a long/short equity fund for three years. He began his career at Daiwa Capital as an equity analyst. Before transitioning to asset management, he was a software engineer.

Mr. Yunye Lu Mr. Lu was also a professional poker player from 2012 to 2016, participating in cash games and tournaments around Asia; he got to second place in one of the leading regional competitions. Fund strategy: a choice of risk The Fund is Cayman-domiciled and for professional investors only. Applying a fundamental bottomup approach, the portfolio will target cyclical and strategically sound companies which exhibit economic moat. It will also short stocks that are overvalued or show deteriorated upward momentum. "While we maintain a dynamic approach to portfolio construction, we prioritize investing in the best companies as a key tenet of our investment philosophy, as we believe that is where the most long-term value comes from." Mr. Lu said. Risk itself is questioned, Mr. Lu explains to Opalesque through a spokesperson. When a stock's price goes down, is there more risk or less risk? Value investors say you should buy more. Some other great investors say you should never add on to a losing position. There are very successful investors on both sides.

Who is right? In terms of investments, he says, it is less about correcting companies valuations or predicting macroeconomics, and more about how to stay away from risks that can severely damage the portfolio. He is able to translate th......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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